Golden Tulip Hamburg Aviation Topping-Off Ceremony

Approximately 100 guests — comprised of builders, Golden Tulip employees, community leaders and city, hospitality and construction officials — attended the Golden Tulip Hamburg Aviation Topping Off Ceremony, which was held on the campus grounds where the new state-of-the-art facility is being constructed.

The completion of the Golden Tulip Hamburg Aviation is expected in the coming months and the hotel will open its doors end of 2006.

Located at the shore of the river Elbe and in close proximity of the Airbus site the Golden Tulip Hamburg Aviation will offer business and leisure guests 170 modern air-conditioned rooms with all necessary amenities such as Flatscreen TV and a high innovated Internet system, air-conditioned conference area featuring modern meeting equipments, dining facilities, relax and wellness areas as well as state of the art infrastructure and ambience.

The Golden Tulip Hamburg Aviation will be fully implemented with Golden Tulip’s latest concepts and systems, which in combination with the spectacular location of the hotel; will lead to enhanced value generating outstanding revenues.

The realization of the property is conducted by AVW AG in cooperation with their financial partners Hannover Leasing GmbH & Co. KG und IVG Immobilien AG. Golden Tulip Hospitality will operate the Golden Tulip Hamburg Aviation.

Mr. Frank H. Albrecht Chairman of the Supervisory Board of AVW AG comments: “This project is an important moment for the location of the Airbus site but also for the entire city. It will house clients from Airbus and at the same time create further employment opportunities in the region.”

Mr. Dierk Ernst, Managing Director of Hannover Leasing adds: “The Golden Tulip Hamburg Aviation will be the most beautiful Hotel with the best location in Hamburg. Seeing the boats float by on the terrace – that has something special.”

Mr. Ulrich Krehahn, Location manager of Airbus Germany GmbH informs: “On a daily basis Airbus welcomes 240 guests of which 30% need overnight accommodation in the area. The Golden Tulip Hamburg Aviation will also be able to generate a lot of meeting business through Airbus.”

Mr. Hans Kennedie, President and CEO of Golden Tulip Hospitality Group concludes: “It gives me great pleasure to welcome this Hotel into our family. The Golden Tulip Hamburg Aviation will not only strengthen the brand within the Hamburg and German market but also internationally. The success of the Hotel is guaranteed through the location and the implementation of the products the chain offers.”

About AVW AG
In 1978 the company was founded in Buxtehude. Today they manage real-estate value of 660 Millionen Euro. In the north of Germany they have already completed 114 building projects, among others homes, offices, hotels and shopping centers. One of the most known projects is the Airbus Technologiepark. AVW is currently planning an expansion into whole of Germany and also Austria.

About the Golden Tulip Hospitality Group
Golden Tulip Hospitality Group, with its head offices in Amersfoort, The Netherlands and Lausanne, Switzerland, is a worldwide hospitality company with more than 500 hotels, 47,000 rooms in more than 47 countries. The Golden Tulip Hospitality Group franchises and manages hotels in Europe, the Middle East & Africa, the Asian Pacific Region and the Americas. In 2005, Hotels Magazine has ranked this company the 18th largest hotel chain.

As a multi-brand hospitality firm, the Golden Tulip Hospitality Group offers services in the two, three and four star categories. On the two-star side Golden Tulip has an alliance with the French B&B hotel chain. The three-star concept is the Tulip Inn for the limited-service first-class category and the four-star category falls under the Golden Tulip brand for the Superior First-Class business and Resort hotels. The Group offers furthermore the Pacific International brand for suites and apartments. The Pacific International brand is owned by Golden Tulip’s strategic shareholders the Australian company Tourism, Hotels and Leisure (THL). In addition Golden Tulip offers its services through its commercial alliance with TOP International, a German based hotel consortium.

For more information, please contact:

Ms. Rocio Manzanares - Corporate Communication Manager
Golden Tulip Hospitality Group
Tel: +31 33 2544 828
Fax: +31 33 2544 816
E-Mail: rocio.manzanares@goldentuliptop.com